We are reiterating our Buy rating, $4 price target and projections for Vince Holding with the company announcing 3QFY25 (October) results before the open on Tuesday. We believe, with a focus on the higher end consumer, compelling fashion offerings, continued wholesale expansion and the company continuing to work to offset the impact of tariffs, Vince is poised to drive 3Q top line upside, with the potential for better than expected bottom line results (even with tariffs exerting a material negative impact). Further, we expect management to remain upbeat on 4Q, with product flows normalizing and the Black Friday sale events inline with prior years. We continue to view the Vince growth story as intact, and believe the negatives of tariffs will begin to abate after 3Q, setting the stage for top and bottom line upside. As such, we reiterate our Buy rating and $4 price target for VNCE.